Pi Crypto Price Surges 12% Ahead of Pi2Day: What’s Fueling the Rally?

Pi Coin has surged 12.28% in the past 24 hours, reaching $0.6004 amid buzz surrounding Pi Network’s annual Pi2Day, scheduled for June 28. The event is expected to unveil transformative updates, including an enhanced KYC process, mainnet progress roadmap, dApp expansion, and integration with generative AI technologies. 

That’s not all, speculation of Pi’s potential listings on centralized exchanges has further intensified investor interest. With sentiment heating up, the crypto community is closely watching for what could be Pi’s most pivotal moment yet. And this write-up takes you through Pi coin’s potential moves in the short term.

Pi Coin Price Analysis: Bullish Breakout Sends RSI Soaring

Pi Coin’s price action has shown significant strength in the past 24 hours. On the 4-hour chart, Pi broke out decisively above the upper Bollinger Band at $0.5868, validating strong bullish momentum. The price tapped a 24-hour high of $0.6083, far above the 20-period SMA of $0.5229, signaling that bulls have taken short-term control.

The RSI has surged to 80.38, making its way to the overbought zone for the first time in weeks. Historically, Pi has respected RSI resistance levels, making the current reading a notable sign of excessive demand. While this could lead to short-term consolidation or profit booking, the strong upward candle and increasing volume suggest that Pi could test the upper resistance near $0.65, followed by $0.70. Contrarily, the immediate support lies around the $0.586 breakout point.

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